Not a bad deal. I bought my son a 1989 Trek 1200 in great condition $200 as a campus bike. It's the same frame with different components. He loves the bike and has no problem with DT shifters. The idea was that, at that price, no one was going to have a heart attack if it gets stolen.
Just for fun, he and I are going to use some of the extra parts around to convert it to 9-speed.
It's a solid bike. Not a bad place to start, and you can always flip it for what you paid for it.